Guideline Value for SHRI DEVI KARUMARI NAGAR

Shri Devi Karumari Nagar guideline value

The current guideline value of Shri Devi Karumari Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Shri Devi Karumari Nagar has changed

The guideline value for Shri Devi Karumari Nagar has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this value decreased to Rs 670 per sq.ft in 2017. Following this, the value rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as per the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, the value increased by 233%. After a decline of 33% from 2012 to 2017, the value surged by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, there has been a substantial increase of 267% in the guideline value.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the 2024 guideline value of Shri Devi Karumari Nagar.

• Shri Abirami Nagar: Rs 660 per sq.ft (2024)
• Shri Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Shri Sivasakthi Vinayagar Nagar: Rs 1,100 per sq.ft (2024)
• Seshadhri Street: Rs 660 per sq.ft (2024)
• Sivan Koil Street: Rs 660 per sq.ft (2024)
• Senthamizh Nagar Main And Cross Streets: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Devi Karumari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shri Devi Karumari Nagar?

The Sub Registrar Office that covers Shri Devi Karumari Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Koladi

The guideline value plays a crucial role in the registration process of property transactions in Koladi. It serves as a baseline for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is typically compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which are mandatory for legal property transactions in the area.

Frequently asked questions

What is the current guideline value of Shri Devi Karumari Nagar?

The current guideline value of Shri Devi Karumari Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification for Shri Devi Karumari Nagar?

Shri Devi Karumari Nagar is classified as Residential Class II Type - I.

What are the stamp duty and registration fees in Koladi?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Shri Devi Karumari Nagar located?

The Sub Registrar Office for Shri Devi Karumari Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.